Brazil currency dip spells good news for Argentinian neighbours

The fall of Brazil‘s currency – the Real has led to a virtual stampede of tourists from neighbouring Argentina to the Copacabana and the country’s other renowned beaches.

The iconic Copacabana Beach in Rio is attracting more Argentinian tourists than even before Image by Roger W / CC BY 2.0

The better exchange rate coupled with authorities in Buenos Aires relaxing tax laws to allow travellers buy items while abroad will lead to over two million Argentinians flying north for holidays among their biggest South American economic and footballing rival before the end of the Southern Hemisphere summer.

Rio de Janeiro is set for a boom summer with increased numbers of visitors on holidays and attending the Olympic Games this summer Image by Luiz Gadelha Jr. / CC BY 2.0

Fox News (Latino) reports that the majority of the holidaymakers will flock to the major southern cities of Rio de Janeiro and Florianopolis as well as the northeastern beaches.

The depreciation of the Real will see Brazil overtake Miami as the number one destination for Argentinians for the first times in decades. Brazilian tourist officials say that one in every five visitors to their country this year will come from their southern neighbours.

With the Olympic Games also taking place there this year and with the need for visas waived to a number of countries, 2016 is shaping up to be a bumper year for the host country.

Brazil has also embarked on a major promotional campaign to entice other South American countries such as Paraguay, Venezuela and next-door neighbour Uruguay – to consider it as their holiday choice this summer.

Although the Argentine peso has also depreciated, Gonzalo Fernandez Suarez, Argentina’s deputy consul in Rio said the attraction of paying for their trips in stages and the removal of a prohibitive 35% tax on credit card purchases while abroad had led to the surge in citizens holidaying in Brazil this year.